Trying to Save Money
Alright let’s get this out of the way right up top: Money Issues suck. Everyone has them to some degree and they are never fun. I have found in the past that talking about money, even with loved ones, can lead to tense discussions and arguments. So, I’m about to list a few money tips I have personally found helpful, and I want you to take them with a grain of salt.
The grain of salt: I am single, in a single-income household, with no children. My little tips here are not the advice of a professional, and I don’t recommend them if you find yourself in a critical financial state (i.e. if you don’t have the funds to put cash aside, then don’t worry about it). But if you find yourself on the cusp or doing slightly okay, these tips aim to help with organization or just some friendly (friendly!) advice on saving.
If you don’t want to budget or set cash aside, don’t worry about this then. You know you, and you know what is best for you, probably. No sense arguing about it, right? So here we go, for those interested:
Set Cash Aside
If you don’t want to mess with a savings account or investing money, and no judgement if you don’t, might I suggest the verrry old-school concept of just putting a little money aside? For the last two years I did the 52-week money challenge, setting aside a dollar amount relating to what week of the year it is (1 dollar the first week of January, 2 the next, and so on). When you get to the end of the year you may be a little anxious about putting amounts over $40 aside every week, but trust me; it’s all coming back to you soon.
At the end of the year, you’ll have a nice little chunk of cash set aside. If you want to play it safe, it’s an extra month or two of rent/mortgage. If something unforeseen happens (your furnace breaks, for example), then you have some emergency cash set aside. Or, best-case scenario, you have some “treat yourself” money to make that big fun purchase you wanted to make or even take a little trip.
I think this could be helpful for people who make money but never seem to have cash (of course, maybe they’re just saying that as an excuse not to go to your standup show).
An example of the 52 Week Money Challenge
Alternatively, if you want to build a larger pile up earlier in the year, you can reverse it: put $52 aside on week 1, then $51 the next week, and so on.
Keep a Budget
Alright I’m just going to say it proudly: I keep a budget. I have been single and living alone for a while now, and in that situation you gotta watch your shit a little extra carefully. Online banking makes this easier: all my card transactions are right there in list form for me to put into a budget at my convenience. I know next to nothing about Excel, but I can fudge it enough to track my expenses.
The budget follows the same logic of remembering important information by journaling or doing affirmations: it helps to write it down. I already know my rent/mortgage will be the same amount next month (hopefully), but it’s good to see it written down in front of me.
The first part of my budget are the obvious essential things: bills and such that you have to pay every month: rent/mortgage, insurance, utilities, internet, and so on. The unavoidable big boys. Next up are your “non-essential” monthly payments: do you pay for a gym membership, for a streaming service (or 3), podcast Patreon, etc. Things you like having, but if push came to shove you could live without.
A snippet from my basic Excel budget
(amounts removed, mind your business)
Depending on how close you’re cutting it, I think you can choose to keep track of the rest: groceries, dining out, gasoline, other shopping. If I’m fortunate enough to be doing well, then I try to keep it simple: I subtract bills from paychecks and say, “Ok I have this amount to spend on food and stuff.” But, like when I was living in Chicago and struggling a bit more, I’ve been known to keep track of every cup of coffee I bought (which is embarrassing on quite a few levels).
Keeping a budget like this won’t magically solve all your problems, but it won’t hurt. At the very least there is always some comfort in looking at that data and seeing where you stand.
Say “No” a bit More Often
This is a not fun one, but here it is: if you’re hurting financially, start denying yourself a bit more often. I KNOW I KNOW, I sound like your mother. I’m not saying life has to start sucking all the time; we need to treat ourselves every now and then. If there’s a video game you really want, go ahead and buy it on the first day it’s out at full price. Just when the next game comes out…maybe wait a few months for the price to go down.
This can apply to all kinds of things: there’s three concerts coming up you’d like to go to? Maybe just pick one. Went out to dinner last night? Maybe don’t go again for the next four to seven days. Escapism and joy are important, and I don’t want to deny anyone the things that make them happy. But saving money is work sometimes, so maybe being strict with yourself for a month or two could help out a little. You can track it all in your budget (see above) and notice if there’s a difference.
Gamble Responsibly
Listen, gambling can be fun sometimes and I really got into poker during the beginning of the pandemmy. Gambling can also be dangerous to your finances and mental health (and even your physical health), so do it responsibly. A few hints:
NEVER gamble with money you aren’t willing to lose. Leave the casino with either happiness or mild disappointment, not anger and never fear.
Slot machines seem to be where the real problems develop, and I never win anyway so I mostly avoid them.
The previous numbers on the screen by the roulette wheel are just there to mess with your head: the wheel doesn’t know the last four numbers were red, it’s still a 48% chance of being red again, every time.
The 0 and 00 are what keep the odds from being 50/50, in case you didn’t know.
If an old guy raises you at the poker table he’s almost never bluffing and you should fold.
And again, if you can’t stop gambling, get help before you get in trouble.
Get a Better Job Then, Smart Guy
Aright, if you bothered to read this far and don’t want to do any of the above to help save money, then I give you the “tough love” answer our parents and grandparents have been giving us since the beginning of time:
“Get a better job then. If you’re so smart and qualified then it shouldn’t be hard, should it?”
See how gross that feels? I don’t like saying it, you don’t like hearing it. Job hunting is awful and finding one that pays well AND doesn’t crush your soul is hard. But just keep Trying, folks. Remind yourself there is something out there for you and don’t let yourself get discouraged.
Also the bank will give you wrappers for your coins, so hang on to your change.
